Senator Lummis submits 1 million Bitcoin acquisition bill to the Senate next week
Senator Cynthia Lummis is a staunch advocate for BTC and cryptocurrency at the 2025 Bitcoin Conference in Las Vegas on Tuesday, Announce President Donald Trump supports the upcoming Bitcoin bill, which aims to promote purchases of 1 million BTC and is expected to introduce it to Congress next week.
Long-term Bitcoin investment strategy
The legislation was originally proposed by Lummis on July 31, 2024, aims to build a strategy BTC reserves For the U.S. government, it serves as a store of additional value to strengthen the national balance sheet.
The bill outlines a BTC purchase program designed to acquire 5% of the total Bitcoin supply over five years, reflecting the size of U.S. gold reserves. The acquired BTC will be held for at least 20 years to ensure a long-term investment strategy.
Challenges faced by former administration under Joe Biden President Lummis Reintroduction The bill in March this year underscores the importance of institutional support for Bitcoin.
Many crypto industry leaders have also proposed innovative ways to implement this executive order, including the proposal to refinance Treasury bonds using BTC.
The U.S. government may hold 200,000 BTC
A noteworthy suggestion comes from the Bitcoin Policy Institute, which proposed “BitBonds. “These will be structured U.S. Treasuries, which allocate 90% of the proceeds to traditional funding actions, while 10% of the proceeds will go to BTC acquisitions.
The institute estimates that assuming BitBonds is $2 trillion in size, the program could save about $700 billion in interest annually over a decade.
Matthew Sigel, head of Vaneck’s digital asset research, responded to the suggestion at the Strategic Bitcoin Reserves Summit on April 15.
Vaneck’s plan also includes a similar 90%-10% bond structure, providing investors with potential BTC returns with an annual yield of 4.5%. Any gains exceeding this threshold will be in the government and Bond holders.
Although Lummis is keen on advancing the Bitcoin Act, the path to obtaining full congressional approval is uncertain. The success of the bill will depend on the support of colleagues in the Senate, which is crucial to increasing the country’s Bitcoin holdings.
Fox reporter Eleanor Terret Report On X (formerly Twitter), Loomis said the U.S. government currently holds about 200,000 BTC. However, she noted that the information was not completely transparent due to the classification because of the requested audit by the White House.
At the time of writing, the market-leading cryptocurrency traded at $108,975, a slight review of 0.5% over the 24-hour timeframe, 2.5% compared to the record high of $111,800 that reached last week.
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